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How Embedded Analytics can Measure the ‘Pulse’ of Your Supply Chain Operation

This sponsored Viewpoint article has been provided by OpenText
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Spend Matters welcomes this sponsored article from Mark Morley, director of strategic product marketing at OpenText.

Many companies today are beginning their journey to transform into a digital business. But implementing a digital transformation strategy does not happen overnight, and you can’t just focus on the internal enterprise. You have to consider how to deploy a digital strategy across external stakeholders, as well. These stakeholders or trading partners can include customers, suppliers, third-party logistics providers (3PL), distributors and financial institutions.

Digital transformation initiatives are being driven by the introduction of new types of networks, new types of devices connected to these networks and new types of structured and unstructured information coming off these devices that need to be archived and analyzed.

Many companies utilize some form of business network to connect with external trading partners, but how can these networks leverage these new technologies? How can these digitally enhanced networks drive increased value across the end-to-end supply chain?

Business networks have been around for many years now — for example, helping automotive companies to establish procurement processes to support their Just-in-Time production systems; helping retailers to introduce vendor managed inventory systems; and helping high tech companies to establish reverse logistics processes to support product recall or customer returns procedures.

Business networks have evolved considerably in recent years. Although the common business language of these networks is electronic data interchange (EDI), new digital technologies are beginning to enhance the capabilities of these networks beyond recognition. Many leading analyst firms agree that one of the key technologies that will transform business and supply chain operations is big data analytics.

Big data analytics has been around for a few years now, and this particular technology is starting to underpin other disruptive technologies, such as the internet of things. From a business network point of view, analytics allows companies to measure the “pulse” of how their external digital supply chain is performing. It achieves this by analyzing the EDI transactions flowing across the digital supply chain.

OpenText, a leading provider of enterprise information management (EIM) solutions, operates the world’s largest business network, connecting more than 600,000 businesses that collectively exchange more than 18 business transactions per year. In early 2015, OpenText acquired a leading provider of embedded analytics solutions called Actuate, and this technology is being deployed across OpenText’s portfolio of EIM solutions. OpenText’s Business Network was the first to integrate to this new OpenText Analytics solution by embedding the analytics engine directly into the transactions flowing across its network, called Trading Grid.

By embedding analytics directly into the transactions flowing between trading partners, companies can obtain deep, rich and meaningful insights into the performance of a supply chain operation. So, for example, being able to understand how many invoices have been exchanged with a particular trading partner, what the timeliness of ASNs being received from specific trading partners are and how many transactions have been exchanged with trading partners over the holiday season. In addition, any form of custom metric can be defined through an engagement with OpenText’s professional services organization. The OpenText Business Network is now able to leverage new data blending capabilities to analyse transactions coming from other B2B or enterprise systems, an ideal way to obtain a 360-degree holistic view of what is going on across your extended enterprise.

OpenText recently released a white paper highlighting the benefits of using embedded analytics across a supply chain. This white paper is ideal for business leaders in the supply chain or logistics function who would like to learn more about how big data analytics can be used across their operations. To download your own copy of this informative white paper, please download here. To learn more about OpenText’s Trading Grid Analytics solution then please visit their website here.

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